New York, United States , July 14, 2024 (GLOBE NEWSWIRE) -- The Global Industrial Control Transformer Market Size is to Grow from USD 1.12 Billion in 2023 to USD 1.89 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.37% during the projected period.
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The term industrial control transformer market refers to the market for transformers made specifically for industrial control applications. It is a portion of the industry for electrical equipment. These transformers are used to scale down voltage levels to safer and more manageable levels required by control circuits in several industrial situations. Industrial control transformers are intended for use in applications where relays, solenoids, and other electromagnetic devices are necessary. They are perfect for low-power rating applications that require constant voltage or constant current, and they feature capacitors and other filtering devices to decrease output variability. Control circuit voltage levels require the employment of industrial control transformers due to the growing need for automation in several industries, including manufacturing, automotive, and energy. To manage voltage fluctuations and guarantee smooth operations, industrial control transformers are becoming more and more essential as the energy sector grows and uses renewable energy sources like solar and wind power. The need for industrial control transformers to maintain constant voltage levels is heightened by the need for precise control systems in transportation, building, and utility projects. Industrial control transformers can be hard to obtain and install for small and medium-sized businesses and organizations with limited funding because of the initial capital requirements.
Browse key industry insights spread across 210 pages with 100 Market data tables and figures & charts from the report on the "Global Industrial Control Transformer Market Size, Share, and COVID-19 Impact Analysis, By Phase (Single Phase and Three Phase), By Power Rating (25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and Above 1,500 VA), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The three phase segment is anticipated to hold the greatest share of the global industrial control transformer market during the projected timeframe.
On the basis of phase, the global industrial control transformer market is classified into single phase and three phase. Among these, the three phase segment is anticipated to hold the greatest share of the global industrial control transformer market during the projected timeframe. These transformers enable the smooth operation of heavy machinery. In the chemical, power, and other industrial and mining industries, these transformers provide general machinery power for things like compressors, pumps, crushers, cutting tools, and other mechanical equipment. When it comes to controlling the power for huge industrial loads, three phase industrial control transformers outperform single phase industrial control transformers. As a result, the market for three-phase industrial control transformers is expanding.
The above 1,500 VA segment is anticipated to grow at the fastest pace in the global industrial control transformer market during the projected timeframe.
On the basis of power rating, the global industrial control transformer market is segmented into 25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and above 1,500 VA. Among these, the above 1,500 VA segment is anticipated to grow at the fastest pace in the global industrial control transformer market during the projected timeframe. Drillers, compressors, and pumps are examples of equipment that is required in the power generation industry. The specs state that these devices have to operate at a constant voltage. Pumps are used in the oil and gas industry to remove fluid from below the surface and are required to survive harsh environments. Because industrial control transformers with a voltage greater than 1,500 VA ensure the safe and effective operation of machinery in a range of industries, the 1,500 VA market is growing.
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Asia Pacific is expected to hold the largest share of the global industrial control transformer market over the forecast period.
Asia Pacific is expected to hold the largest share of the global industrial control transformer market over the forecast period. Many factors, such as the growing development of heavy industries, the upkeep of outdated machinery, the modernization of power and distribution infrastructure, and the utilization of renewable energy sources, are driving the demand for control transformers in this region. The growing requirement to upgrade and extend the current transmission and distribution infrastructure to accommodate the rising energy demand is another factor that is expected to positively impact the transformer market during the forecast period.
Middle East & Africa is predicted to grow at the fastest pace in the global industrial control transformer market during the projected timeframe. The growth of manufacturing facilities has been the primary focus of the Middle East and African market due to the recent investments made by non-oil and gas enterprises. It is also commonly recognized that the region has a plentiful supply of raw materials, which are required by the manufacturing sectors of the end-user sector. Rather than relying heavily on oil, the region is focusing on its manufacturing sector.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Industrial Control Transformer Market include Emerson Electric Co., Hammond Power Solutions Inc., ACME ELECTRIC, ABB, Schneider Electric, Eaton, Dongan Electric Manufacturing Company, Siemens Energy & Automation, Inc, G S A Industries, HICO, Procon Controls, Electric Hammond Power Solutions, Hubbell, Rockwell Automation, Broadman Transformers, and others.
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Recent Developments
- In January 2023, The US-based Emerson Electric Co. declared that it would give USD 100 million to the establishment of a new industrial control transformer research and development facility. New technologies for industrial control transformers, including smart transformers and transformers for renewable energy applications, were developed with the help of the funding.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Industrial Control Transformer Market based on the below-mentioned segments:
Global Industrial Control Transformer Market, By Phase
- Single Phase
- Three Phase
Global Industrial Control Transformer Market, By Power Rating
- 25-500 VA
- 500-1,000 VA
- 1,000-1,500 VA
- Above 1,500 VA
Global Industrial Control Transformer Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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